Asset Account
I have an asset account with Trade Dollars 50k in it (has not been used for 3 years, the company (local sporting club) wishes it removed from the accounts. How do I remove the amount from the account?
Hi Robert119
Thanks for your post. The only way to remove a balance from an account is to move it to another account by recording a transaction. In this case you'll need to speak to the accountant about a general journal to clear that account.
Please let me know if you need further help.
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